New York, Feb 14, 2026, 12:47 ET — Market closed.
- AST SpaceMobile shares tumbled Thursday, following news of a hefty convertible-debt deal.
- U.S. defense primes finished Friday in the green, buoyed by a drop in Treasury yields following softer inflation numbers.
- U.S. equity markets will be closed Monday because of Washington’s Birthday, also known as Presidents Day.
AST SpaceMobile shares found their footing by week’s end, following a sharp drop on Thursday after the company unveiled new financing plans. The move kept U.S. space stocks in the spotlight as traders headed into the long weekend.
Timing’s key here. With U.S. stock markets shut on Monday, investors get an extra day to process fresh funding decisions and interest rate cues ahead of trading’s return on Tuesday.
Capital can make or break space companies. This latest development hit just as investors were rethinking their risk tolerance, shaken by fresh inflation numbers and wild volatility in growth stocks.
AST SpaceMobile tumbled 15.17% Thursday, ending the session at $82.22. Shares then inched up 0.35% to $82.51 on Friday, Yahoo Finance data show.
The company has set the pricing for $1.0 billion in 2.250% convertible senior notes maturing in 2036, allowing holders to convert their debt into stock at an initial rate of roughly $116.30 per share. Alongside that, it detailed additional equity sales connected to buybacks of its outstanding convertible notes.
Much of the resistance comes down to dilution worries and the threat of a trading “overhang.” New shares often trigger hedge moves, and stock-linked financing tends to weigh on the stock, especially when volumes run high.
Thursday’s retreat hit space stocks across the board. The Procure Space ETF slipped, and investors knocked down prices for a number of companies linked to rocket launches and satellite supply chains.
Defense stocks fared better. Lockheed Martin picked up 2.3% to close at $652.58. Northrop Grumman finished up 1.1% at $702.57. General Dynamics advanced 2.0% to $347.64. RTX dropped 0.5% to $200.06. Boeing closed out the session with a 1.5% gain at $242.96.
Treasury yields slipped after January’s U.S. inflation numbers came in below forecasts, a setup that’s typically given defense stocks a lift as investors step back from riskier growth names.
Even so, the risk for space stocks is straightforward enough: if investors start bracing for additional dilution, fresh funding rounds can snowball. Miss a launch window or stumble on commercial demand, and another capital raise may be right around the corner.
Next up for traders: Tuesday’s post-holiday open, with eyes on upcoming settlement moves linked to AST’s financing package this week. Investors are also zeroed in on the next satellite launch, expected in late February, and treating it as a key short-term trigger.
